Rumor or Breaking News? Germany to Exit the Euro This Weekend.

The internet, and especially gold forums, are getting excited over the possibility of very big news from Germany this Friday.

As reported by a Zero Hedge contributor, a forum post at GoldLikeProductions from a user identifying himself as a Deutsche Bank employee, suggests that the big news to be announced this Friday as stated by German politician Gregor Gysi at a recent press conference may be that Germany will announce a return to the Deutsche Mark, eliminating the Euro as their country’s currency:

I’m working at the Deutsche Bank in Germany. Today we delivered 1 container with new Deutsche Mark notes and new coins. I will present a photo from the new banknotes tomorrow morning. The curencychange will be the night from Saturday to Sunday 5/16/2010. On Friday, 19.00 GMT Angela Merkel the germany chancelor, will speach to the german nation.

This forum post, coupled with a page identified at Kitco.com (screenshot), one of the leading precious metals dealers in the world, that looks like it is being built to price gold/silver/platinum in Marks, has gold bugs around the world buzzing.

If Germany were to announce that they are pulling out of the Euro and switching back to Marks, there would be serious implications around the world. The European crisis would likely accelerate and last Thursday’s stock market crash would just be an appetizer for what we can expect around the globe come Monday morning. Gold would likely make a serious move to the upside as a result.

Dispelling the Rumor

We warn our readers that this may very well be nothing more than a rumor, and recent gold price action in the upward direction may be partly attributed to the aforementioned forum post and Kitco page.

Regarding the Kitco.com web page, the SHTF Plan research team utilized Archive.org, an internet archival web site that tracks web site pages over the course of the last 15 or so years.

The very same page which is being listed at Kitco with the following URL: http://www.kitco.com/market/dm_charts.html is NOT A NEWLY CREATED PAGE and has existed at Kitco.com for quite some time.

The page has existed at the exact URL address since before the Euro was accepted by Germany.

According to Archive.org, the Web Archive’s earliest listing for this specific URL dates back to August 12, 2000 and the oldest available instance of this page can be viewed here:

Thus, this is not a new development and the page was simply never taken down by Kitco.com after the Deutsche Mark was removed from circulation.

The fact that the only available news about the new Deutche Mark comes from an anonymous poster at an internet forum should further dispel this rumor.

How likely is it that Germany would drop the Euro?

While we do believe in the eventual destruction of the Euro and breakup of the European Union, Germany announcing that it will be dropping out of the monetary union and introducing a new currency over the weekend is unlikely.

Germany is a nation that fears inflation for good historical reason, and among the nations of the world, Germany places a particularly high priority on price stability.Â Yet, so long as Germany remains in the European Economic and Monetary Union (EMU) with the euro as its currency, Germany may not be in control of German inflation.Â Â In particular, the current crisis with Greece, and the crises that may follow with other nations such as Portugal, Italy, Spain and Ireland may prove disastrous for German investors and taxpayers.Â For so long as it is in the EMU, Germany may have no effective choice but to bail out countries that have been running up huge deficits â€“ despite Germany itself not having the economic capacity to do this for all of Europe on an indefinite basis, let alone the political will to do so.Â These are among the reasons why in a letter to clients late last week, Morgan Stanley warned that Germany may leave the euro and the EMU and that investors should be prepared for this event.

If this event happens, it may create an enormous financial windfall for millions of individual Germans, as well as German companies, not to mention the German government. While leaving the monetary union is still far from certain as Germany also has strong economic and political incentives to stay in the EMU, in this article we will say â€œwhat ifâ€ and explore some of the startling benefits for nations and individuals of quickly exiting a failing monetary union â€“ as well as the many perils.

It is not completely out of the question that Germany will decide to leave the European Monetary Union but remain an EU member. Obviously, if the German people (The #2 exporters in the world) are going to be strapped with bailing out Greece, the rest of the PIIGS and Eastern Europe, they may be much better off just cutting their losses and getting out now.

Friday will be an interesting day, but we’re not holding our breath. At this point, the world economic and financial systems are such a mess that even if Germany announces a switch back to the Mark, the end result globally will be similar to what will happen at some point in the near future anyway – panic, collapse and all the goodies that go along with that.

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Germany always has had its eye on Europe .Â Long before any of the world wars were even fought there . Germany holds all the cards in the game being played out right now . It has the most money , the most industry , and the most to lose when the euro fails , so they need to bail out before it crashes . Germany will eventually rule Europe simply because they have the money and as its been written so much before “He who has the gold makes the rules ” They will take over with out firing a shot .

The Germans rule indeed. But from the other hand, they produce consuming products. This means that a mass denial for buying German products, would drop their sales.
The worst is about to come though. With the unemployment rates increasing globally, Germans will find themselves looking for customers.
So everything is unstable nowadays.

It wouldn’t surprise me if it did happen.
Germany cannot allow itself to be dragged into some inflation prone,debased currency with all of the undisciplined politics that it entails.
They(the Germans)Â are simply too conservative in their finances.

As one of the largest exporters in the world, if not the largest ( most people think its china) of quality goods. I don’t think Germany would get hit as far as their exports go because of the quality of their goods. The Germans actually manufacture their own stuff and have a Industrial and manufacturing base. Yes they have exported some manufacturing, but the base is still in the mother land, which America rebuilt after WWII. Is there a lesson here? Still think NAFTA was a good idea? Remember Ross P. and the huge sucking sound he warned us about? America and Europe are now in the Vacuume!!

When we did NAFTA, Germany was reuniting east and west. In our world, remember everyone has their German Scientist. Can we say that about any other country in the world?

I thought Merkel might be strong enough to do something like this, but after the cave-in this weekend she now looks little different than all the other globalist oatmeal politicians. Germany must eventually pull out, but it will be under someone else and this is way too soon.

Comments…..If people think Germany will abandon the Euro, they’re dreaming. Germany is the#1 exporter of quality products, and the best engineers in the world. China is the #1 exporter of junk. I was in Germany 2 weeks ago on business, the German government is spending their money on building factories to employ people, they’re not spending it on wars.
This Euro. Bashing is temporary, who ever bets against the Euro. is going to lose.

When I was in the ARMY, I was stationed in Germany for almost 3 years before I decided not to reinlist.Â I LOVED it there!!Â Such a beautiful country… with all of the crazy crap going on here thanks to Obamass… I’m tempted to grab my passport and go back permanently.

@ personofnocolor
No, Germany bailing out the PIIGS is not like Texas bailing out California or New Jersey. It’s like the US bailing out Mexico and Honduras and Venezuela and Columbia and …etc. How would you like that? Europe is not the United States. Within Europe we are different nations, different languages, different histories, different cultures, different mentalities. We are forced from TPTB to pretend as if we are one. We are not. The people are not being asked. I am from Germany.

BTW, the rumor about a currency reform was not started by this “banker” at godlikeproductions but has been discussed in German forums for over a year now. There are several circumstancial evidences that seem to point to this weekend that you can only see here in Germany. The next weekend is also a possible date. But of course there are also many experts who believe this is not possible and is not going to happen (at least not so soon). Everybody is just waiting and sort of tense to see what will happen this weekend.

If the German Mark is coming, I suspect some stock markets might smell it today – it looks like gold smells something – up nearly $17 with stock markets set to open down almost 100 points on the DJI as of this writing….

I also may add that the rise in gold prices may have resulted in this hoax that is present on many forums and webpages in general now. People being affected seem to be panicking – spending their Euros in Gold or changing them into other currencies to avoid a loss in wealth.

I myself am German and quite sceptic of all this. We will see if anything happens this weekend.

>> Within Europe we are different nations, different languages, different histories, different cultures, different mentalities.

Cat, some people would say exactly the same thing about Texas and California (who did incidentally essentially issue its own currency last year).Â Or the North and the South, which by the way did have different currencies at one point.Â So did each state.Â I do not think the USA would be as strong now as it is (altho maybe that’s no great prize anymore) if we’d remained a confederacy with separate currencies.Â

But you’re right, the focus of Europeans vs. Americans may well lead to a different result.Â As a nation full of immigrants who left their history behind for a new life, most focused on commonalities and the future in the US.Â Not so in Europe where history and differences/uniqueness is of primary importance.Â Not that either is right or best, but the pendulum does seem to be swinging back toward isolationism, it will be interesting where things take us next.

It’s amazing how gullible and ignorant the US public is.
Their brains are fully encased in fat -as the rest of their bodies- so they can’t think straight. how else can one explain their oblivion to the destruction of their way of life by FED , Goldman Sachs, and the like? Their took their tax dollarsÂ bailed themselves out and paid themselves millions in bonuses while laughing how dumb the US population is!
Only in Amerika!

Obserwator: Look I’m pretty sure your the ignorant one, due to the fact that you put all American’s into one category.Â We are not all encased in “fat” as you say, as there are actually smart American’s who have been living self sufficiently and are STRONGLY against all of the bailouts.Â What the rest of the world is clearly not seeing is that while our politicians bailed themselves out and gave more to the rich bank CEO’s and those of the likes, the rest of the U.S. is struggling in many parts to even keep their heat and electric on.Â My family and many in the community I live in are living off the land like we have for many many decades.Â We want nothing to do with these crooked, crazy rich fools who have destroyed the entire American Dream that have brought people from all over the world.Â What you see on American t.v. today is definitely not even close to whole picture. Â

“GERMANY HAS IT’S EYE ON EUROPE” what kind of Comment is THAT?! Germany is part of Europe and they want the “Deutsche Mark” back! What is so wrong with that?I lived in Germany all my life,was born and raised there,then left ten years ago to live hereÂ in the U.S.A. Shortly after I left Germany ,the “Euro” was put into place which to my knowledge messed up the Economy over there,since I still talk to friends and family ! I always thought it was wrong to change the currency of each country and make itÂ all the same! If Germany wants to goÂ back to what was before……..why not? I am all for it!!!!!

Comments…..Comments…..Germany out from europe?this is great news will see our money (italian liras!)and our life will come back.every nation free we can still be friends and partners whith out the fucking euro.

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